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Your Registered Disability Savings Plan (RDSP) is eligible to receive government assistance through two financial programs, which can really help your savings grow faster.
Canada Disability Savings Grant
Contributions may be eligible for the Canada Disability Savings Grant (CDSG). There are benefits from matching grants of 100%, 200% or 300% — depending on your family’s net income and the amount contributed — up to a lifetime limit of $70,000, as shown in the chart below. Grants will be paid into an RDSP up to the end of the year in which the beneficiary turns 49.
| Family Net Income*($) |
| Up to $77,664 |
Over $77,664 |
300% on first $500
(maximum of $1,500) |
100% on first $1,000
(maximum of $1,000) |
200% on next $1,000
(maximum of $2,000) |
| Example: A $1,500 contribution generates $3,500 CDSG |
Example: A $1,000 contribution generates $1,000 CDSG |
Canada Disability Savings Bond
The RDSP may also be eligible for the Canada Disability Savings Bond (CDSB) — which pays up to $1,000 per year — whether or not RDSP contributions are made. Bonds will be paid into an RDSP up to the end of the year in which the beneficiary turns 49, and up to a lifetime limit of $20,000. The income requirements are explained in the following chart.
| Family Net Income*($) |
| Up to $21,816 |
Between $21,816 and $38,832 |
Over $38,832 |
$1,000 per year |
Portion of $1,000 based on a formula |
$0 |
As you can see in the next chart, these programs can provide significant assistance in growing your savings every year.
| |
Family Net Income*($) |
Up to
$21,816 |
$21,81–
$38,832 |
$38,833–
$77,664 |
Over $77,664 |
| CDSG Matching Rates |
|
|
|
|
| 300% on the first $500 |
$1,500 |
$1,500 |
$1,500 |
– |
| 200% on the next $1,000 |
$2,000 |
$2,000 |
$2,000 |
– |
| 100% on the first $1,000 |
– |
– |
– |
$1,000 |
| CDSB |
$1,000 |
$500 |
– |
– |
| Total Assistance |
$4,500 |
$4,000 |
$3,500 |
$1,000 |
For more information, or to open a Registered Disability Savings Account, contact your Financial Planner.
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